A firm's profits will be greatest when it practices:
A) first-degree price discrimination.
B) second-degree price discrimination.
C) third-degree price discrimination.
D) no price discrimination.
A
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How does a firm in a competitive market decide what level of output to produce in order to maximize its profit?
What will be an ideal response?
National income (NI) is calculated by adjusting GDP for: a. depreciation
b. investment and net exports. c. Social Security insurance contributions and transfer payments. d. corporate and personal income taxes.
The quantity of one good that is given up to produce another is defined to be its
a. market value b. opportunity cost c. relative cost d. absolute cost e. nominal cost
The rule of 70 estimates how long it will take a country to:
A. achieve zero inflation. B. reach its maximum production capacity. C. double its real GDP per capita. D. double its output.